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Friday, May 9, 2014

9/5/2014: Cost of Credit in Ireland Kept Rising in Q1 2014

Latest data from the Central Bank shows continued increases in cost of credit in Ireland in Q1 2014:
- Overdrafts rates for households are up 0.46 percentage points in Q1 2014 compared to Q1 2013;
- Loans for house purchases with original maturity up to 1 year: up 0.29 percentage points
- Loans for house purchases with original maturity of over 1 year and up to 5 years: up 0.08 percentage points
- Loans for house purchases with original maturity over 5 years: down 0.2 percentage points

- Consumer loans with original maturity up to 1 year: up 0.82 percentage points
- Consumer loans with original maturity of over 1 year and up to 5 years: up 0.3 percentage points
- Consumer loans with original maturity over 5 years: down 0.02 percentage points

- Non-financial corporations loans with original maturity up to 1 year: up 0.1 percentage points
- NFC loans with original maturity of over 1 year and up to 5 years: up 0.16 percentage points
- NFC loans with original maturity over 5 years: up 0.01 percentage points
- NFC overdrafts rates down 0.36 percentage points.

Thus, Irish 'repaired' banking system continues to extract higher costs out of households and businesses already strained by debt burdens.

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This blog represents my personal views and is not reflective of the views or opinions held by any company, contractor, client or employer I work for currently or have worked for in the past. These views are not an endorsement to take any action in the markets or of any political position, figures or parties.

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